Wheat is trading with contracts lower across the three exchanges. The wheat complex was mixed on Monday, as KC was on the selling end of some interclass spreading. CBT soft red wheat futures were on the buying side, up 1 to 2 cents. KC HRW futures were 1 to 2 cents lower on Monday. MPLS spring wheat futures were steady across the front months at the close.
Export Inspections data showed 480,614 MT (17.66 mbu) of wheat shipped in the week that ended on October 16, which was an increase of 7.39% from the week prior and 77.63% above the same week last year. Nigeria was the top destination of 97,809 MT, with 67,377 MT to Thailand and 63,333 MT to South Korea. Marketing year shipments have totaled 11.193 MMT (341.713 mbu), a 20.35% increase yr/yr.
